XML 72 R54.htm IDEA: XBRL DOCUMENT v3.23.3
Fair Value Measurements - Changes in level 3 recurring fair value measurements, assets (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2022
Jan. 01, 2021
Dec. 31, 2020
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]              
Fair Value Beginning of Period $ 28,695 $ 29,622 $ 28,647 $ 31,627      
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income 126 64 251 265      
Other Comprehensive Income (Loss) (392) (936) (19) (3,601)      
Purchases, Sales, Issuances and Settlements, Net 347 (42) 1,124 1,201      
Gross Transfers In 841 2,217 1,359 4,414      
Gross Transfers Out (311) (571) (2,143) (3,552)      
Other 107 0 194 0      
Fair Value End of Period 29,413 30,354 29,413 30,354      
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period (13) (90) (123) (140)      
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period $ (440) $ (868) $ (308) $ (2,835)      
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Revenues Revenues Revenues Revenues      
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Asset, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration] Other comprehensive loss Other comprehensive loss Other comprehensive loss Other comprehensive loss      
Gross Transfers Out     $ 0        
Market risk benefit assets, at fair value $ 978   $ 978   $ 796 $ 338 $ 338
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Liability, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration] Other comprehensive loss Other comprehensive loss Other comprehensive loss Other comprehensive loss      
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Revenues   Revenues        
Recurring Basis              
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]              
Market risk benefit assets, at fair value $ 978   $ 978   796    
Level 3 | Recurring Basis              
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]              
Market risk benefit assets, at fair value $ 978 $ 743 $ 978 $ 743 $ 796    
Net realized gains/(losses)              
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]              
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Total net realized gains (losses) Total net realized gains (losses) Total net realized gains (losses) Total net realized gains (losses)      
Fair Value, Liability, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Total net realized gains (losses) Total net realized gains (losses) Total net realized gains (losses) Total net realized gains (losses)      
Bonds available for sale              
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]              
Fair Value Beginning of Period $ 24,980 $ 24,368 $ 24,899 $ 26,862      
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income 141 43 300 273      
Other Comprehensive Income (Loss) (380) (911) (14) (3,549)      
Purchases, Sales, Issuances and Settlements, Net 239 61 845 853      
Gross Transfers In 796 2,162 1,300 4,027      
Gross Transfers Out (296) (513) (1,884) (3,256)      
Other 81 0 115 0      
Fair Value End of Period 25,561 25,210 25,561 25,210      
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period 0 0 0 0      
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period (440) (868) (308) (2,835)      
Bonds available for sale | Obligations of states, municipalities and political subdivisions              
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]              
Fair Value Beginning of Period 869 957 824 1,431      
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income (3) (1) (2) 1      
Other Comprehensive Income (Loss) (78) (106) (26) (534)      
Purchases, Sales, Issuances and Settlements, Net (23) (29) (31) (94)      
Gross Transfers In 0 0 0 17      
Gross Transfers Out 0 (7) 0 (7)      
Other 0 0 0 0      
Fair Value End of Period 765 814 765 814      
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period 0 0 0 0      
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period (82) (167) (54) (319)      
Bonds available for sale | Non-U.S. governments              
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]              
Fair Value Beginning of Period 6 9 1 7      
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income 0 0 1 0      
Other Comprehensive Income (Loss) 0 0 1 0      
Purchases, Sales, Issuances and Settlements, Net (3) (1) (5) (1)      
Gross Transfers In 0 1 7 3      
Gross Transfers Out 0 0 (2) 0      
Other 0 0 0 0      
Fair Value End of Period 3 9 3 9      
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period 0 0 0 0      
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period 0 0 1 0      
Bonds available for sale | Corporate debt              
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]              
Fair Value Beginning of Period 1,721 2,483 2,847 2,641      
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income (5) (31) (101) (57)      
Other Comprehensive Income (Loss) (78) (53) (19) (204)      
Purchases, Sales, Issuances and Settlements, Net (76) (100) (450) (137)      
Gross Transfers In 176 1,781 496 2,163      
Gross Transfers Out (200) (163) (1,219) (489)      
Other 0 0 (16) 0      
Fair Value End of Period 1,538 3,917 1,538 3,917      
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period 0 0 0 0      
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period (83) (55) (61) (183)      
Bonds available for sale | RMBS              
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]              
Fair Value Beginning of Period 7,617 8,352 7,553 10,378      
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income 101 101 315 323      
Other Comprehensive Income (Loss) (82) (267) 37 (1,210)      
Purchases, Sales, Issuances and Settlements, Net (74) (299) (275) (1,173)      
Gross Transfers In 2 2 33 2      
Gross Transfers Out (25) (8) (89) (439)      
Other 7 0 (28) 0      
Fair Value End of Period 7,546 7,881 7,546 7,881      
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period 0 0 0 0      
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period (122) (39) (33) (704)      
Bonds available for sale | CMBS              
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]              
Fair Value Beginning of Period 553 871 926 1,190      
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income (3) (1) (25) 12      
Other Comprehensive Income (Loss) (27) (31) (69) (144)      
Purchases, Sales, Issuances and Settlements, Net 4 (33) (35) 84      
Gross Transfers In 65 12 98 12      
Gross Transfers Out (25) (12) (328) (348)      
Other 0 0 0 0      
Fair Value End of Period 567 806 567 806      
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period 0 0 0 0      
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period (32) (50) (114) (143)      
Bonds available for sale | CLO/ABS              
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]              
Fair Value Beginning of Period 14,214 11,696 12,748 11,215      
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income 51 (25) 112 (6)      
Other Comprehensive Income (Loss) (115) (454) 62 (1,457)      
Purchases, Sales, Issuances and Settlements, Net 411 523 1,641 2,174      
Gross Transfers In 553 366 666 1,830      
Gross Transfers Out (46) (323) (246) (1,973)      
Other 74 0 159 0      
Fair Value End of Period 15,142 11,783 15,142 11,783      
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period 0 0 0 0      
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period (121) (557) (47) (1,486)      
Other bond securities              
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]              
Fair Value Beginning of Period 1,392 3,127 1,527 2,697      
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income (3) (40) 32 (314)      
Other Comprehensive Income (Loss) 0 0 0 0      
Purchases, Sales, Issuances and Settlements, Net 40 (66) 49 424      
Gross Transfers In 1 40 5 325      
Gross Transfers Out (3) (16) (239) (87)      
Other 26 0 79 0      
Fair Value End of Period 1,453 3,045 1,453 3,045      
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period (14) (110) (41) (456)      
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period 0 0 0 0      
Other bond securities | Obligations of states, municipalities and political subdivisions              
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]              
Fair Value Beginning of Period 3   0        
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income 0   0        
Other Comprehensive Income (Loss) 0   0        
Purchases, Sales, Issuances and Settlements, Net (2)   1        
Gross Transfers In 0   0        
Gross Transfers Out 0   0        
Other 0   0        
Fair Value End of Period 1   1        
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period 0   0        
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period 0   0        
Other bond securities | Corporate debt              
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]              
Fair Value Beginning of Period 155 461 416 134      
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income 1 (5) 3 (9)      
Other Comprehensive Income (Loss) 0 0 0 0      
Purchases, Sales, Issuances and Settlements, Net 65 66 (7) 190      
Gross Transfers In 0 28 0 250      
Gross Transfers Out 0 (1) (191) (16)      
Other 0 0 0 0      
Fair Value End of Period 221 549 221 549      
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period 3 (7) 2 (8)      
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period 0 0 0 0      
Other bond securities | RMBS              
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]              
Fair Value Beginning of Period 164 192 173 196      
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income (2) (7) 5 (25)      
Other Comprehensive Income (Loss) 0 0 0 0      
Purchases, Sales, Issuances and Settlements, Net (4) 26 (20) 40      
Gross Transfers In 0 0 0 0      
Gross Transfers Out 0 0 0 0      
Other 0 0 0 0      
Fair Value End of Period 158 211 158 211      
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period (3) (8) (8) (28)      
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period 0 0 0 0      
Other bond securities | CMBS              
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]              
Fair Value Beginning of Period 26 32 28 35      
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income (3) (3) (5) (6)      
Other Comprehensive Income (Loss) 0 0 0 0      
Purchases, Sales, Issuances and Settlements, Net 0 0 0 0      
Gross Transfers In 0 0 0 0      
Gross Transfers Out 0 0 0 0      
Other 0 0 0 0      
Fair Value End of Period 23 29 23 29      
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period (3) (3) (4) (6)      
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period 0 0 0 0      
Other bond securities | CLO/ABS              
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]              
Fair Value Beginning of Period 1,044 2,442 910 2,332      
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income 1 (25) 29 (274)      
Other Comprehensive Income (Loss) 0 0 0 0      
Purchases, Sales, Issuances and Settlements, Net (19) (158) 75 194      
Gross Transfers In 1 12 5 75      
Gross Transfers Out (3) (15) (48) (71)      
Other 26 0 79 0      
Fair Value End of Period 1,050 2,256 1,050 2,256      
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period (11) (92) (31) (414)      
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period 0 0 0 0      
Equity securities              
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]              
Fair Value Beginning of Period 72 12 39 6      
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income 1 (1) 3 (1)      
Other Comprehensive Income (Loss) 0 0 0 0      
Purchases, Sales, Issuances and Settlements, Net (2) 8 27 14      
Gross Transfers In 0 15 10 15      
Gross Transfers Out (12) 0 (20) 0      
Other 0 0 0 0      
Fair Value End of Period 59 34 59 34      
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period 1 0 2 0      
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period 0 0 0 0      
Other invested assets              
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]              
Fair Value Beginning of Period 2,140 2,008 2,075 1,948      
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income (13) 62 (84) 307      
Other Comprehensive Income (Loss) (12) (25) (5) (52)      
Purchases, Sales, Issuances and Settlements, Net 69 (45) 198 (83)      
Gross Transfers In 44 0 44 47      
Gross Transfers Out 0 (42) 0 (209)      
Other 0 0 0 0      
Fair Value End of Period 2,228 1,958 2,228 1,958      
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period 0 20 (84) 316      
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period 0 0 0 0      
Other assets              
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]              
Fair Value Beginning of Period 111 107 107 114      
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income 0 0 0 0      
Other Comprehensive Income (Loss) 0 0 0 0      
Purchases, Sales, Issuances and Settlements, Net 1 0 5 (7)      
Gross Transfers In 0 0 0 0      
Gross Transfers Out 0 0 0 0      
Other 0 0 0 0      
Fair Value End of Period 112 107 112 107      
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period 0 0 0 0      
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period $ 0 $ 0 $ 0 $ 0